05:04 AM EDT, 05/12/2026 (MT Newswires) -- RBC Capital Markets adjusted its earnings estimates for Pandora (PNDORA.CO), following the Danish jewelry company's better-than-expected first-quarter results.

"Pandora delivered healthy 1Q26 results, beating expectations and supporting a 14% share price gain on the day, whilst maintaining FY26E guidance. We view FY26E revenue guide to be conservative for technical reasons, although note new product refresh not expected until FY27E, which makes for a more balanced setup for now. Product transition will negatively impact cash flow, inventories and net debt short term, but necessary to rebalance [cost of goods sold] and return to low 20s EBIT margin. Raising EPS by 4-5% and [price target] (DCF + target P/E 9x) to DKK 600 (from DKK 575),"analysts said Monday. The stock is rated sector perform.

As part of a model update, the research firm raised its group revenue forecast for full-year 2026 by 2% to 32.9 billion Danish kroner, with a projected organic revenue growth of 1.4% versus the prior 0.4% contraction. RBC also increased its 2027 group revenue projection by 2% to 33.8 billion kroner to account for the higher 2026 base.

For the three months ended March 31, Pandora's revenue was 7.11 billion kroner, exceeding market expectations by 1% at 7.03 billion kroner. Amid an uncertain geopolitical and economic landscape, the company's reiterated 2026 outlook includes an organic growth guidance of between -1% and +2%.